JPMorgan Chase & Co. Decreases Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

JPMorgan Chase & Co. cut its holdings in Northrop Grumman Co. (NYSE:NOC) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,530,370 shares of the aerospace company’s stock after selling 268,507 shares during the quarter. JPMorgan Chase & Co.’s holdings in Northrop Grumman were worth $1,466,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. MV Capital Management Inc. grew its position in shares of Northrop Grumman by 17.2% in the 1st quarter. MV Capital Management Inc. now owns 703 shares of the aerospace company’s stock worth $228,000 after buying an additional 103 shares during the last quarter. Summitry LLC bought a new position in Northrop Grumman in the first quarter worth about $25,384,000. Insight Wealth Strategies LLC boosted its position in Northrop Grumman by 96.2% during the 1st quarter. Insight Wealth Strategies LLC now owns 2,557 shares of the aerospace company’s stock valued at $828,000 after acquiring an additional 1,254 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Northrop Grumman in the 1st quarter worth approximately $88,000. Finally, Norinchukin Bank The boosted its position in shares of Northrop Grumman by 1.7% during the first quarter. Norinchukin Bank The now owns 12,903 shares of the aerospace company’s stock valued at $4,176,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 83.30% of the company’s stock.

Shares of NOC traded down $1.65 during midday trading on Friday, reaching $370.86. 2,613 shares of the stock were exchanged, compared to its average volume of 1,056,725. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.46 and a quick ratio of 1.36. The company has a market capitalization of $59.69 billion, a P/E ratio of 13.65 and a beta of 0.83. The firm has a 50 day moving average price of $357.41. Northrop Grumman Co. has a 52 week low of $282.88 and a 52 week high of $379.03.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, April 29th. The aerospace company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $1.09. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Northrop Grumman had a return on equity of 40.40% and a net margin of 12.10%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.48 EPS. Analysts forecast that Northrop Grumman Co. will post 24.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 16th. Shareholders of record on Tuesday, June 1st will be issued a $1.57 dividend. The ex-dividend date of this dividend is Friday, May 28th. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.45. This represents a $6.28 dividend on an annualized basis and a yield of 1.69%. Northrop Grumman’s payout ratio is currently 26.55%.

In related news, VP Mark A. Caylor sold 2,961 shares of the stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $352.04, for a total transaction of $1,042,390.44. Following the completion of the sale, the vice president now owns 10,019 shares of the company’s stock, valued at $3,527,088.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 4,916 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $352.04, for a total transaction of $1,730,628.64. Following the completion of the sale, the chief executive officer now owns 114,040 shares of the company’s stock, valued at $40,146,641.60. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

NOC has been the topic of several research reports. Wells Fargo & Company started coverage on shares of Northrop Grumman in a research note on Tuesday, May 18th. They set an “underweight” rating and a $330.00 price objective on the stock. Zacks Investment Research raised shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $375.00 price target for the company in a research report on Monday, May 3rd. Stifel Nicolaus upgraded Northrop Grumman from a “hold” rating to a “buy” rating and boosted their price target for the stock from $350.00 to $475.00 in a research note on Friday, June 4th. Morgan Stanley upped their target price on shares of Northrop Grumman from $447.00 to $478.00 and gave the company an “overweight” rating in a research note on Friday, April 30th. Finally, Susquehanna lifted their target price on shares of Northrop Grumman from $350.00 to $409.00 and gave the stock a “positive” rating in a research report on Friday, April 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Northrop Grumman has a consensus rating of “Buy” and a consensus target price of $393.17.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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